Answered: Kale Corporation stock is selling for… | bartleby

Personal Finance

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter14: Investing In Stocks And Bonds

Section: Chapter Questions

Problem 5LTAI

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Question

Kale Corporation stock is selling for $15 a share. You would like to purchase as many shares of this stock as you can. Your margin account currently has
available cash of $9,000 and the initial margin requirement is 75%. What is the maximum number of shares you can buy?
Multiple Choice
500 shares
700 shares
750 shares
800 shares

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Please answer is 24840, only post if your answer comes this with explanation and concept. Thabks!
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